Sweden Stays on Sidelines as Northvolt Fights for Survival
Unless a deal is struck with current shareholders, Northvolt may need new owners stepping in.
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The Swedish government maintained that it has no plans to rescue ailing battery-cell maker Northvolt AB, instead pinning its hopes on a rescue package funded by shareholders.
Time is running out amid a cash crunch after the firm struggled to get production off the ground. A $300 million emergency deal has yet to materialize as talks between the company, lenders and investors are complicated by uncertainty about the market for electric cars.